HC Deb 13 July 2000 vol 353 c616W
30. Jane Griffiths

To ask the Secretary of State for Trade and Industry if he will make a statement on UK business activity in Thailand. [128972]

Mr. Caborn

In 1999, Thailand was the UK's 39th largest export market with exports of £468 million. Exports for the first four-months of 2000 have shown an increase of 59 per cent. over the same period of 1999. Top export products are electrical machinery, power generation equipment, industrial machinery and leather goods.

The UK ranks as the 5th largest investor in Thailand, being strongly represented in the retail, power and water sectors. The last year has also seen major investments in banking, with HSBC (£620 million) and Standard Chartered (£206 million) acquiring majority holdings in Thai banks.

The recovery from economic recession in Thailand has been reflected in the levels of interest Trade Partners UK has seen from British companies looking to do business there, both in numbers of planned trade missions, exhibitions and seminars, and in the numbers of companies taking part.